Saving for school can be daunting. Whether attending a 2-year program or earning a doctorate, higher education has become increasingly expensive for attendees. Combine that with ever-changing financial aid requirements and student lending rules and you can easily find yourself searching for answers. Let us help you create your savings strategy, whether it be for a child, grandchild, or yourself.
K-12 Programs
Did you know many college savings plans can be used to pay for qualifying K-12 expenses? While originally designed to save for college, Coverdell and 529 plans may also be used to pay for K-12. We can help you determine if either of these plans are right for your family.
College Savings Plans
There’s no wrong way to save money, but understanding all your options is important. From 529 plans, to Coverdell ESAs, to UGMA and UTMA accounts, you have many options, but each has its pros and cons. We can help you unravel the differences and get started on the path to saving.
ABLE Accounts
Also known as 529A accounts, ABLE accounts are designed to save for individuals with disabilities and pay for disability related expenses without losing access to many public benefits. We can help you understand and establish this type of account if right for you or your family.
*Prior to investing in a 529 Plan, investors should consider whether the investor’s or designated beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.
Want to learn more? Contact us today.
Speak with our financial planning team for your no-obligation consultation. Complete the form below or call us direct at 812-863-7574 to schedule your appointment. We look forward to meeting with you soon.
*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Crane Credit union and Crane Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Crane Investment Services, and may also be employees of Crane Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Crane Credit Union or Crane Investment Services. Securities and insurance offered through LPL or its affiliates are:
| Not Insured by NCUA or Any Other Government Agency | Not Credit Union Guaranteed | Not Credit Union Deposits or Obligations | May Lose Value |
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Crane Credit Union provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay Crane Credit Union for these referrals. This creates an incentive for Crane Credit Union to make these referrals, resulting in a conflict of interest. Crane Credit Union is not a current client of LPL for brokerage or advisory services. Please visit https://www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.
The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.
